THE 100 families of Momi Bay landowning unit will have a more secure future after the iTaukei Land Trust Board negotiated a new tourism lease agreement.
This resulted in the premium payment of $1.075m for the 99-year lease by the Fiji National Provident Fund, who is the lessee (occupant), to the TLTB, which represents the land owner’s interest.
The landowners also received $60,000 annual lease rental, education fund of $20,000 and community development fund of $50,000 with the total payment of $1.203m made to landowners.
Landowners representative Mr Moape Nagata said the new lease agreement was a dream come true after all the trials and downturns over the past couple of years.
“Today (23.12.11) is the product of the good relationship built on mutual understanding, process of dialogue and negotiation and above all trust,” he said.
“This opportunity is something the villagers will take full advantage of to uplift their livelihood.
“Our children will also be able to get good education as only 2 per cent of our youths have had access to quality education because their parents had no fixed income,” he added.
Matapo Limited, a New Zealand-based developer, had earlier been granted the 99-year lease but this was later terminated due to the Momi Development Decree 2010, which required the TLTB to negotiate a new lease under fair and equitable with FNPF.
When handing the cheque to TLTB general manager Alipate Qetaki the FNPF chief executive officer Aisake Taito said this was the first step to developing the area because they were finalising details on the hotel operations.
“We are still finalising the cost of total development and the project will start in the second quarter of next year,” he said.
Mr Qetaki said the negotiations were made within the powers vested to FNPF under the decree.
“Under the leasing conditions, apart from the normal leasing conditions we have also negotiated other benefits, special benefits with special conditions for landowners,” he said.
As part of the goodwill, landowners of the area will be given preference in business opportunities.
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